Throughout the projection timeframe of 2022–2027, the international demand for textile machinery is anticipated to develop to a value of $38 billion at a CAGR of 4.6 percent. The COVID-19 epidemic, which has been ongoing since the outset of 2020, has had an impact on the whole supply chain of the textile sector, and all industry participants, including producers of textile machinery, have encountered numerous challenges. The global textile machinery market is broken down by machine type (spinning, weaving, processing, knitting, and texturing), distribution channel, application, and geography. For the spinning of textile yarns, Teraspin produces precision components. Their product portfolio includes weighting arms, top rollers, and cradles for roving frames and ring frames. The portfolio additionally strengthens with high-speed spindles and spindle bearing inserts for ring frames.
Vasant Terwadkar, Vice President, A.T.E. Enterprises shares his experience with us.
How do you envision this sector evolving in India? What are the main determinants?
Following the COVID outbreak, the Indian textile sector has experienced strong demand. Impressively, our textile and apparel exports reached around $45 billion in 2022. However, this rise in demand has abruptly subsided, and in October, our exports fell by about 17 percent. The Indian government has declared textiles one of its key industries, taking numerous measures that will stimulate the industry, including Performance Linked Incentive (PLI), SITP, and PM MITRA programmes. With 100 percent FDI, foreign investors will be attracted, which will lower investment costs for Indian textile producers and turn India into a centre for machine production. It is now simpler to conduct business thanks to the FTAs with several nations.
What are the main issues and demands that consumers have? How do you plan to meet those?
Concerns include rising wages, unstable cotton prices, and a lack of competent labour. Waste reduction, energy conservation, and process automation have long been the focal areas for spinners. We design and produce accessories and components for textile spinning machinery.
The Smart Yarn Catcher (SYC), developed by Teraspin, gets rid of leftover yarn on the spindle and guarantees minimal hard waste, and avoids the need for manual cleaning for many weeks. Leftover yarn can cause excessive energy consumption as well as unbalanced stresses on spindles and pre¬mature failures.
Saving energy is another problem. In order to alleviate this, Teraspin has created Premium energy-efficient spindles. These spindles at faster speeds up to 30,000 rpm, and operate with less
noise and vibration while consuming lesser energy– up to 10 percent less. Additionally, we have a specialized team with knowledge in automation and machine upgrades, and we assist clients in spinning niche yarns like slub, multi-count, multi-twist, and core yarn.
How is Teraspin positioned in the textile machinery accessories market?
Teraspin was founded when A.T.E. acquired the textile component division of SKF India in late 2011. We have concentrated on product quality when developing a variety of spinning machinery components. We have gained the trust of spinners not just in India but also internationally thanks to our client-centric approach to customer satisfaction.
With customers in 20+ countries, including Turkey, Uzbekistan, Egypt, Indonesia, Vietnam, Taiwan, China, and Mexico, Teraspin has established itself as a global brand through constant improvement, a technology-focused approach, strong after-sales support, and an unwavering dedication to 'getting it right the first time'. Teraspin is known for creating high-quality goods at reasonable prices. Our goal is to establish mutually beneficial long-term strategic collaborations with spinning OEMs globally.
Tell us about the team of Teraspin. How is your combined experience helping the firm to grow?
The Teraspin team is made up of all-around skilled experts with a range of manufacturing backgrounds: Anuj Bhagwati, Head of the A.T.E. Group; K P Singh, Director, Teraspin; Abhijit Kulkarni and I, with experience in OEM and sales distribution; and Hemant Apastamb, who oversees operations. Additionally, we have a strong sales organization that operates across the entire country and for export. The Teraspin team has had one objective in mind: to deliver high-quality products with quality as a vital component of our shop floor culture.
Elucidate the company's strategy for providing customers with quality-assured goods and services. What are the main guidelines you follow to make sure of this?
Teraspin is consistently dedicated to enhancing technology, technique, product quality, and after-sales assistance. As a result, we can create products that help our clients produce high-quality yarns consistently. This is only possible because we prioritize our customers' needs when creating new items. We are focusing on the trends of digitalization and sustain¬able industry. Here at Teraspin, sustainability is a key guiding principle.
We have gained the trust of spinners not just in India but also internationally thanks to our client-centric approach to customer satisfaction
What are the key specifications of the range of products and services delivered by the firm? Highlight the USP.
Along with our Smart Yarn Catcher and high-speed energy-saving spindles, Teraspin has created 'Smart' cradles that help maintain uniform yarn tension and reduce yarn defects by 10-15 percent compared to current, traditional alternatives. Our Smart cradle can handle changes in apron length, delivering uniform tension throughout the apron. Our 'Flexi' weighted arm for ring spinning machines gives spinners the most freedom possible in terms of ring frame settings and the use of their current spinning components. Customers can upgrade their pneumatic drafting system to a spring-loaded drafting system without buying new arm bars, arm bar brackets, cradles, top rollers, and more.
Where do you see this market in the near future? What is the future roadmap for your Company?
I am optimistic about the immediate and long-term future. Our steady order flow with scarce cancellations demonstrates that investors remain optimistic about the future. Fully integrated textile facilities with a complete value chain, including spinning, weaving, and processing, are another encouraging development.
Additionally, there is a very strong tendency toward automation in equipment and storage solutions. Furthermore, there are other ongoing projects, which we anticipate will move faster toward completion as the market bounces back. We also anticipate expanding our production presence beyond the products we now have.
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